Helsinki, Finland –Dynea, a leading provider of adhesive and surface solutions, has today announced the closing of the sale of its Asian division, Dynea Asia Pacific (“Dynea AP”), to AICA Kogyo (“AICA”), a leading Asian polymer chemistry company based in Japan.
The share transfers of Durante Dynea Adhesives (Shanghai) Co. Ltd and Dynea Malaysia Sdn Bhd are expected to be closed as soon as the necessary procedures by local authorities are completed.
In a separate deal, Dynea Chemicals Oy has sold its shares in Dynea Australia Pty Ltd to Momentive Specialty Chemicals Pty Ltd.
The sale of the Asian operations is in line with Finland-based Dynea’s strategy of concentrating its resources around its European business and in particular its phenolic resin activities.
For more information please contact:
President and CEO, Dynea
Telephone +358 10 585 2064
Millington Advisory Partners acted as financial advisor to Dynea in relation to the transaction.
Dynea in brief
Dynea is an international provider of superior adhesion and surfacing solutions is owned by the IK Funds advised by IK Investment Partners, a leading European private equity company. Today, Dynea has activities in 11 countries in Europe, with 13 plants and some 800 employees. For further information on Dynea: www.dynea.com
AICA in brief
AICA is a leading Asian polymer chemistry company with activities in chemical materials, decorated laminates, housing materials and electronics. AICA is quoted on the Tokyo Stock Exchange. For further information on AICA: www.aica.co.jp